https://www.taxtmi.com/highlights?id=97000 The text clarifies that immunity under Section 270AA applies only to plain 'under-reporting of income' and does not extend where under-reporting is a consequence of 'misreporting' as defined in relation to penalty provisions. It further states that transfer-pricing adjustments, being arm's-length determinations, do not by themselves constitute misreporting where the taxpayer maintained required transfer-pricing documentation and complied with Chapter X disclosures; accordingly the taxpayer qualified for immunity under Section 270AA and the writ petition was allowed. en-us Wed, 18 Feb 2026 10:45:57 +0530 Wed, 18 Feb 2026 10:45:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=97000 The text clarifies that immunity under Section 270AA applies only to plain 'under-reporting of income' and does not extend where under-reporting is a consequence of 'misreporting' as defined in relation to penalty provisions. It further states that transfer-pricing adjustments, being arm's-length determinations, do not by themselves constitute misreporting where the taxpayer maintained required transfer-pricing documentation and complied with Chapter X disclosures; accordingly the taxpayer qualified for immunity under Section 270AA and the writ petition was allowed. Highlights Income Tax Wed, 18 Feb 2026 10:45:57 +0530 https://www.taxtmi.com/highlights?id=97000